Top tips on starting a business in UAE
Setting up a company in UAE has countless benefits to offer. However, with all the advantages that one can gain, there are certain elements that require proper consideration before you get started. With this information at hand, you will now be able to make a better decision pertaining to the type of business you wish to establish in UAE.
Businesses that have customers based in Dubai
In such a case, it is best for you to incorporate an LLC – Limited Liability Company. Such a business can be established with two shareholders, out of which one has to be a resident of the UAE and must be given a minimum of 51% share equity. The other can be a foreign partner. For the record, there is no requirement as such for the native partner to be involved in the overall operations of the business.
Businesses that are a profession or service
The best option in this regard is to establish a sole proprietorship, for which you will require a professional license. Although a local service agent will need to be appointed, this license guarantees 100% foreign ownership.
Businesses with customers based in free zones
If you get in touch with experts that provide pro services Dubai, you will learn that registering a company in a Dubai free zone is possible if it is:
– A branch of a foreign company
– A free zone establishment with a natural or corporate owner
– A free zone company with multiple owners
No matter what option you choose, you will only be required to lease premises within the free zone. The best part is that you will be allowed to have 100% foreign ownership as well as repatriation of capital and profits. However, you will be required to appoint a distribution agent within the UAE if you are interested in conducting business within the UAE, outside the free zone.
Businesses that have customers based outside the UAE
When learning about how to start business in UAE, you will learn that the best option in this case is to set up an offshore company. This way, you will get to retain 100% foreign ownership of the business, while also being able to open bank accounts within the UAE. Most importantly, there are no residency requirements that you need to fulfill other than having a local registered agent. To top it off, you will get to operate your business with tax-free operations. However, what you need to bear in mind is that you will not be able to conduct business within the UAE.